把引力接到新的空间

卡缪搬家了。马奎斯搬家了。卡尔维诺搬家了。莫内搬家了。林布阑搬家了。毕加索搬家了。瑞典KOSTA BODA彩色玻璃搬家了。英国WEDGWOOD骨瓷搬家了。法国HEDIARD咖啡搬家了。诚品敦南店搬家了。写下以上文字的许舜英搬家了。     

技术进步的恐慌与诱惑

从上个世纪的80年代开始，我们感受到了前所未有的社会变化，人们的生活发生了巨变，以“芯片”作为主要电子元件的设备充斥着人类的生活。我们传输信息的速度加快了，我们收集、整理信息的速度也加快了，我们的管理水平提高了，我们工作的速度也提高了，我们对世界改变的速度也加快了。人们感受到了由于技术进步带来的好处，工资的待遇提高了，汽车、洋房增多了，人们所需的日常物品丰富了，人们休闲娱乐的方式增多了。人们的寿命增长了。     

半夜惊醒

那时候，老张跟前都是炒股的人。他们每天都红光满面，神采奕奕。他们一开口，就是涨了，又开口，也是涨了，再开口，还是涨了。涨了就是赚了。看见别人赚钱，老张坐不住了。老张也有10万块钱，是他省吃俭用半辈子的积蓄。有一天，老张跟老婆商量了半天，也去世纪证券开了户，把钱打进了股市。     

以科学发展观统领全局努力实现国有企业又快又好发展

全省国有资产监督管理工作会议全面总结了2005年的工作。准确分析了当前面临的形势。结合我省实际，提出了今年工作的新思路、新任务、新举措，充满了改革创新的精神。增强了加快发展的紧迫感。会上传达了全国国有资产监管工作会议精神，明确了全国国资监管和国有企业改革的总体形势与目标任务。     

一枚马掌钉的启示

他没有马骑了,他的军队已经分崩离析,士兵自顾不暇。不一会儿,敌军俘获了查理三世,战斗结束了。所有的损失都是因为少了一个马掌钉。自从十五世纪以来,在欧洲一直流传着一首民谣：少了一枚马掌钉,掉了一只马掌。掉了一只马掌,失去了一匹战马。失去了一匹战马,打败了一场战役。打败了一场战役,毁掉了一个国王。     

会计人生的四则感言

正一、永不言迟的起步规则或许老师当惯了,常问一些青年对未来的打算。大概工作久了,这些青年给我的回答通常是"太迟了,没机会重来了"。究其原因,总是说自己年纪大了。对此,我是不敢苟同的。1977年国家恢复高考,其时已近而立之年的我兴奋异常,从小想进高等学府的夙愿终于有机会实现了。由于得到消息较迟,我匆匆准备了一两个月就进了考场,结果可想而知,名落孙山。转眼半年过去了,又一次高考机会来临。工作之余,用了多少个不眠之夜,我终于如愿以     

魔力硬币和企业管理的奇迹

有这么一则真实故事：猎人在一个寒冷的冬天里遇到了一只狼。这只狼将近两米长，非常健壮。可惜他的猎枪没有瞄准，只打到了狼的右后腿，狼还是瘸着这条腿逃跑了。但是猎人并没有放弃继续追赶这只受伤的狼。跑了一段时间，受伤的腿成了狼逃跑的阻碍。于是狼拼命地向前跃了几下，和猎人的距离拉大了一些。     

BOM数据管理系统在东风商用车公司的应用

东风商用车公司在没有建立统一的BOM系统前,BOM数据管理并不尽人意。为解决这个长期困扰商用车公司的问题,东风汽车有限公司通过一定的资金投入,对东风商用车公司的BOM数据管理系统进行了研发,并取得了成功。该系统加大了产品数据的安全性,缩短了产品问题发现和处理的周期,提高了客户的满意度,实现了用户产品配置同产品设计高度统一,提高了采购的合理性。同时,保证了零部件数据同整车数据相吻合,提高了成本核算的准确度。该系统的实施和应用,提高了该公司商用车在设计、制造、物流、营销和管理等方面的水平,促进了公司的发展,为提高企业的竞争能力和创造效益做出了贡献。本文就东风商用车公司BOM数据管理系统的设计方案、实施内容和应用效果作了分析和探讨。     

实施岗位价值精细管理 强势助推企业快速腾飞——阳泉煤业（集团）有限责任公司推行岗位价值精细管理的基本模式和主要成果

阳泉煤业（集团）有限责任公司通过研究与实施岗位价值精细管理，培育了理念，构建了机制，夯实了基础。锻炼了队伍，提升了管理，增加了效益。随着岗位价值精细管理的不断深入和完善，其优越性必定会逐步彰显。也将对阳煤集团的发展起到有力的推动作用。     

贯彻落实科学发展观 充分发挥全省投资审计工作的“免疫系统”功能——在全省投资审计工作会议上的讲话

这次全省投资审计工作会议就要结束了。会议总结了几年来的投资审计工作，交流了经验，研究讨论了如何进一步深化投资审计工作的措施和办法，达到了预期目的，收到了较好的效果。下面，我讲几点意见。     

Bayesian model selection using encompassing priors

This paper deals with Bayesian selection of models that can be specified using inequality constraints among the model parameters. The concept of encompassing priors is introduced, that is, a prior distribution for an unconstrained model from which the prior distributions of the constrained models can be derived. It is shown that the Bayes factor for the encompassing and a constrained model has a very nice interpretation: it is the ratio of the proportion of the prior and posterior distribution of the encompassing model in agreement with the constrained model. It is also shown that, for a specific class of models, selection based on encompassing priors will render a virtually objective selection procedure. The paper concludes with three illustrative examples: an analysis of variance with ordered means; a contingency table analysis with ordered odds-ratios; and a multilevel model with ordered slopes.     

Press freedom and corruption in business-state interactions

We show that press freedom has a role in constraining business corruption. Using firm-level data, we find that countries with greater press freedom have significantly fewer incidences of bribery involving public officials. In particular, we find that a free press is associated with a substantial reduction in the percentage of firms that report corruption during interactions with tax officials and when obtaining construction permits. Furthermore, we find that fewer businesses in these countries report that corruption is the biggest problem that they face. These findings highlight the role of an independent media in combating corruption.     

The graph of Lindahl correspondence as the unique von Neumann-Morgenstern abstract stable set

In this paper, we consider a continuum economy with a finite number of types of agent, and several private and public goods. The main result of the paper is that the graph of the equal-treatment Lindahl equilibria mapping is the unique abstract stable set with respect to the dominance relation in economies with crowding effects introduced by Vasil'ev et al. in 1995. The external stability of this mapping implies that, for any equal-treatment allocation x in , that is not a Lindahl equilibrium, there exists a subeconomy of such that one of its equal-treatment Lindahl allocations blocks x. This result is a counterpart of the theorem of Mas-Colell for Aumann's atomless market with private goods.     

Processes with volatility-induced stationarity: an application for interest rates

In this paper we propose a refinement of the existing definition of volatility-induced stationarity that allows us to distinguish between processes with drift and diffusion induced stationarity and processes with pure volatility-induced stationarity. We also propose a classification of stationary processes with volatility-induced stationarity according to the volatility that is needed to inject stationarity. Processes with volatility-induced stationarity are potentially applicable to interest rate time-series since, as has been acknowledged, mean-reversion effects occur mainly in periods of high volatility. As such, we provide evidence that the logarithm of the Fed funds rate can be modelled as a local martingale with volatility-induced stationarity.     

Do stock markets discipline US Bank Holding Companies: Just monitoring,or also influencing?

This paper presents evidence that bank managers adjust key strategic variables following a risk and/or valuation signal from the stock market. Banks receive a risk signal when they exhibit substantially higher (semi-)volatility compared to the best performing bank(s) with similar characteristics, and a valuation signal when they are undervalued relative to the average bank with similar characteristics. We document, using a partial adjustment model, that bank managers adjust the long-term target value of key strategic variables and the speed of adjustment towards those targets following a risk and/or negative valuation signal. We interpret this as evidence of stock market influencing. We show that our results are unlikely to be driven by indirect influencing by regulators, subordinated debtholders, retail or wholesale depositors. Finally, we show that the likelihood that banks receive a risk and/or valuation signal increases with opaqueness, managerial discretion and specialization.     

A note on the evaluation of information in zero-sum repeated games

Two players play a zero-sum repeated game with incomplete information. Before the game starts one player receives a private signal that depends on the realized state of nature. The rules that govern the choice of the signal are determined by the information structure of the game. Different information structures induce different values. The value-of-information function of a game associates every information structure with the value it induces. We characterize those functions that are value-of-information functions for some zero-sum repeated game with incomplete information.     

Equilibrium unemployment with outsourcing under labour market imperfections

We study the effects of international outsourcing on equilibrium unemployment in a high-wage economy with labour market imperfections. We demonstrate, consistent with empirical results, that the wage elasticity of labour demand is increasing as a function of outsourcing. Furthermore, we show that a production mode with more outsourcing reduces the negotiated wage in a high-wage country with labour market imperfections if the relative bargaining power of the labour union is sufficiently high. Under such circumstances outsourcing reduces equilibrium unemployment. Finally, we characterize the optimal production mode showing that stronger labour market imperfections induce a production mode with more outsourcing.     

Contingent capital,capital structure and investment

We examine the interaction between investment and financing policies in a dynamic model for a firm with existing assets-in-place and a growth option, of which investment cost is financed with equity and contingent convertible bonds (CoCos). We attempt to clarify how CoCos impact on investment timing, capital structure and inefficiencies arising from debt overhang and asset substitution. We show that there is a conversion ratio (the fraction of equity allocated to CoCo holders upon conversion) to eliminate the inefficiencies. Our conclusions predict that debt leverage decreases with investment option payoff factor and the average appreciation rate of the cash flow. In contrast to traditional corporate finance theory saying that a firm's value decreases globally with business risk, our model indicates that it might first decrease and then increase with asset volatility.     

Measuring efficiency in Australian Schools: A preliminary analysis

In this paper, we apply a public sector Data Envelopment Analysis model to estimate the efficiency of Australian primary and secondary schools. Standard microeconomic production theory showing the transformation of inputs into outputs is extended to allow nondiscretionary environmental variables characteristic of educational production. Failure to properly control for the socioeconomic environment leads to inappropriate comparisons and biased efficiency estimates. We employ a conditional estimator that does not allow a school with a better environment to serve as a benchmark for a school with a worse environment. The results suggest that Australian schools are moderately inefficient and that efficiency increases for the quintile of schools with the most favorable environment. Further, efficiency gains are realized with increasing enrollment.     

Collective memories,propaganda and authoritarian political support

Can experience with democracy affect political support for a dictator? We develop a political economy model with endogenous reference points, where a dictator strategically reactivates traumatic collective memories about a past experience with democracy, to convince the population that a democratic alternative is inferior to the autocratic status quo. We find that a more traumatic experience with democracy in the past renders propaganda more efficient and increases the level of authoritarian political support per unit of memory recollection. We support these findings with panel data evidence from 103 countries.